Part of the Maryland Technology Enterprise Institute (Mtech), an initiative of the A. James Clark School of Engineering at the University of Maryland, MIPS provides matching grants for technology product development projects that team Maryland companies with researchers in the state's public universities. MIPS has supported projects from more than 500 companies since 1987.

Fishell Department of Bioengineering (BioE) and Institute for Systems Research (ISR) associate professor Benjamin Shapiro was awarded $150,502 to support Cordex Systems LLC's development of a new medical device for detecting and monitoring cardiovascular disease.

BioE and ISR assistant professor Ian White received $135,000 to help Diagnostic anSERS Inc. (founded by BioE graduate students Eric Hoppman and Sean Virgile) advance its development of a new, highly sensitive chemical sensing device fabricated on paper using inkjet printing.